Jay,

I've heard of two offices closing up in our county lately but nothing on such a large scale like what you wrote about. But I'm pretty sure we'll see more of this happening in the next few months.

Hello Jay!

Whoa. Well, the Remax concept is going by the wayside. I remember when they first started. They were the first 100% office that I can remember in the Houston area. The downside was, you paid hefty franchise fees and desk fees. I was jeoulous of the baloon. In the beginning the agents were to be the cream of the crop.

Then they started taking anyone that would pay those high fees. Heehee.

And the ads. But their concept now is getting obsolete.

I know you are in a hard market area right now. I wish you luck!

I heard there was discussion about the owners opening a couple of smaller shops.   As you said on your blog, the agents are able to pick up and go elsewhere but the office personnel, that's a different story.  That's a shame.    BTW, you have a couple of angry people on your blog, eh?  lol.  

Hey Jay!

Well, I'll be the first Re/Maxer here to comment. While this is not my brokerage, I can attest it was pretty surprising news for all.

Since the media loves to have a field day with this kind of news, we are naturally stressing to clients that each brokerage is "individually" owned and operated and this closing does not affect our specific business. I am actually glad that I can say our brokerage has been quite profitable this year and we have been ramping up on hiring new agents (specifically those that have been in the business at least a year).

I understand that the closing was not just a shock here, but also to Re/Max International, as they did not even know themselves until the news had been released. I don't know this broker or exactly what happened, but it sounds as though he never notified anyone (not even the Corporate office) until the email that went out over the weekend.

I do know that our brokerage (and many others) are working to help place these folks quickly and have also been told that some of the offices will remain open under new ownership, some will be merged into other offices and companies, and some agents will join new brokerages altogether.

I agree though that the timing could have been better...not much of a Christmas.

I don't know the particulars, but wonder myself if it was mismanagement or simply too many agents not producing...which we all know is a huge problem these days.

Anyway...I'll keep you posted if I hear anything new!

Connie  

I am, or should I say soon to be "was" a RE/Max 2000 agent.  Announcement came as a total shock to me as well.  We had our company Christmas party just 2 weeks ago and all seemed well with the world.  Sunday morning received an e-mail from Broker Robert Kline announcing the closing of all 13 of his offices and telling us we have 30 days to find another place to hang our licenses.  

The meeting today with Dave Liniger, co-founder of Re/Max shed little light on exactly what happened but there was some hints of possible fraud by a former employee combined with the fact that some agents were not paying their office fees.  I do believe Bob Kline grew too fast and aquired too many offices in a down market.

What I also know is I have been bombarded with hundreds of e-mails from other brokerages offering their "help".  I want to yell a resounding "PLEASE STOP" with the e-mails.  "PLEASE STOP' with the phone calls.  I will be staying with RE/Max (sorry Karen, I do not believe the RE/Max concept is obsoloete...nor do 120,000 other RE/Max agents...nor do the buyers and sellers who will only work with a RE/Max agent)

Stay tuned.

This is just the tip of the iceberg !!!

!ts happening in Ga and FL

Many going independent and into 100%transaction brokerages services.. for a more stable and steady monthly income for the brokers..with out paying those big franchise fees.

Example of this 4,000 agents paying 50 bucks a month = $200k per month to the broker!! not a bad piece of change huh!

Plus the transaction fee on each sale.. give or take $300 each deal.

This makes a win win for all...

I had spoke to a broker who split from Re/Max just last week....and is converting to transaction only...

Happy New Year Everyone :)

Yes, it's tough out there.  Costs are up and sales are down.  The weak or poorly prepared will not survive.  It's sad.  But there is nothing wrong with the RE/MAX Model (IMHO).  

High flyers like RE/MAX are just more visible when they fall.

I don't know how the market is where you are... but local experts are predicting that there will probably be a 25 percent attrition rate in Real Estate around here - meaning 1 in 4 agents probably won't make it through the year.

Real estate has always been cyclical, and here we are in one of those cycles.  The way to survive is to sharpen skills, meet more people, and WORK the WEB !

Those who stay in and work it like a business should be fine.  I wish the best to each of you in 2008 - knowing that you are already using the web and a P2 site means you are ahead of the game.  

Believe!

I just transferred from a RE/MAX office. The new office I went to has about four other people who transferred.

The reason I left was the high office fees and the way the company was growing in leaps and bounds with little to no experience

In all reality it is not a 100% concept after you pay your monthly office fees some pay over 2000.00 a month depending on the transactions you do a year  in my case it was 70/30 by my choice.

But!! RE/MAX does awesome advertising all year round verses their competitors.

There will be other agents leaving the RE/MAX system for the same reasons I have the affordability.

I wish the best for all the RE/MAX franchises and still think Dave and Gail Liniger have the agents first in mind.

This is happening in Jacksonville, FL too.  We have one company, Watson Realty, that gets about 20% of the local market share for listings and sales.  They're every where.  Watson built a multi-million dollar office on the Northside of Jax, and never moved in.  It's got a "for Lease" sign on the building.  Most of the offices have seen about a 50% drop in agents roster too.

Seems to me that the small independent brokers with low overhead can adjust to market conditions better than large corporations eh?  Lot to be said for working from home now :)

I firmly agree with Lonn and Amy - I moved to RE/MAX about 9 months ago, and wish I would have done it 3 years ago.  I actually think that the RE/MAX model is outstanding, I've been so impressed and their advertising is second to none.  EVERYONE knows the balloon.

Cindy Hartman, REALTOR

RE/MAX100

There is no way this closing was market driven.  It sounds more like the "fraud" mentioned.  RE/MAX is a good model, was better before the 70/30 "option" in my opinion.  "Back in the day" it meant something to be a "RE/MAX agent", but no longer, they are just like the rest of the body shop brokerages. Too many untrained or poorly trained "newbies". IMHO.

Getting a little off topic here (sorry Jay), however, a fee per transaction or commission split plan is great if you're selling less than 20 homes per year.  Anything over that and the Re/Max (or any other)100% plan is far more affordable and comes with the name recognition that the consumer values. Each RE/Max office is independently owned and operated so fee structures vary.  I've personally never heard of anyone paying $2000/mo unless they're paying for a team in which case they are being reimbursed by the individual team members.  

As a professional who has been in the business a long time, I switched to RE/Max when I paid over $50,000 to my previous broker on a 70/30 split.  I had no monthly office fees or overhead so that split sounded attractive, but it didn't take rocket science to figure out it wasn't working for me financially.  

Every agent should run the numbers on their personal production.  It's foolish to make a blanket statement concerning the best/worst brokerage, the best/worst fee schedule etc as there are too many variables involved.

In my area 2/3rds of the Coldwell Banker offices have closed in the last year.  I am thinking about calling ABC, CBS, CNN, FOX etc. and getting a little face time on the boob tube about this tragic situation.  Great advertising don't you think.  Oh by the way did I mention that was 2 out 3 is 2 satellite offices owned by same broker.  All agents moved back to home office or moved on of there own free will.  Just a cost adjustment on the brokers part.  Makes great headlines if you don't know the whole situation.    

Jay, I'm sure they can all get jobs at the cable company. Sorry, I couldn't help myself. The Re/Max model is fine. Most brokers have already incorporated some of the model into their own version. Bigger splits for those that bring home the bacon and more shared costs that were once taken care of under the brokers cut. Most agents would be surprised at just how much business expense is covered by the broker using the traditional splits. I would not recommend that anyone jump to a RE/Max broker unless they have more than three years of experience in real estate sales and doing a consistent two closes per month for the past three years running. Otherwise, they will need a cable company for a safety net. Oh, I forgot, IMHO.

Funny thing here is our Florida operation with over 4,000 agents will be opening a new office here in metro Atlanta which is great now I will most definitely have the best of both  states and its also transaction only with 25 bucks a month and $300 each transaction doing the same thing as anyone else is doing with out the big shingle attached to it.

The franchises are loosing agents  in droves to this type of brokerage everyday and some big shingle are making the change over to survive.

As I stated also that Orlando Board has lost over 20% of its Realtors for not renewing there board dues!

For those who remain will be the winners after this dust bowl settles down... and I am in to win it...

Gregory:  The cable company is not a safety net, but a platform from which I share my own experience and success in order to help other agents succeed.  

If you get a chance today to lift another up, to inspire, or give hope, provide a helping hand, or offer up a moment of grace, I hope you will take advantage of it.  

I have to totally agree with Amy here and I certainly don't believe that Jay intended this post to become a "bash Re/Max or any other brokerage" post for that matter.

When I entered the business, I spoke with approximately 10 different brokerages (out of approximately 300 brokerages in the Phoenix area at that time). I spoke with those who offered 100%, $25/month and $289/transaction, to the full scale brokerages, and everything in between. Certainly if I were interested in just hanging my hat somewhere and wasn't sure what my business volume would be...I would have gone with the lower fees, but with those lower fees also usually (and I stress usually) comes much less training or assistance with transactions (i.e. transaction coordinators).

Although Re/Max is certainly not the "end all" in real estate, I chose them because of the technology platforms that they do offer along with outstanding training. They are the only company offering training via satellite network (i.e. the Re/Max Satellite Network)...and this was a big deal to me...as when I first started, I was still holding down another job until I could get in a position to go full-time (which I did within two months), but I did not have the time available to sit in training classes in an office...so being able to view 60 hours of training per week on the Dish network (via RSN) worked wonderfully for me. They also offer "Agent Training on Demand" online...and there are just hundreds of clips and tidbits with ideas and a myriad of information on our message boards, as well. And then there's the training we offer in-house, as we have a "coach" to assist new agents. I have never felt I was lacking for information...if anything...it's been how to get through it all.

We also have something called the "Design Center" online which offers nearly 1,500 ready made postcards, ecards, brochures, newsletters, CD's...you name it...it's out there - and at no additional charge. The designs have already been created and then we just fill in the rest. These are very beautiful and professional looking pieces and it's nice not to have to reinvent the wheel every time you need something.

Now granted no one enjoys the fees, but anyone who joins Re/Max knows that the majority of the fees are going towards "the advertising fund" (for my brokerage, if you are on a split and not doing the 100%, this is the only fee you pay. At 100%, you are paying more, as you are also helping to pay for overhead expenses). But like Amy said, I have heard of no one in my office paying $2,000/month in fees.

During my assessment, I decided I wanted to be in a company that was well-known. Yes, I heard all those that said, "they don't hire your company...they hire you", but I have yet to hear anyone (outside of real estate) criticize me for going with Re/Max - I was actually applauded for my choice of companies. So I had to decide if I wanted to pay the monthly fee for getting the company name out there versus what it would cost me to go with a lesser known brokerage...and how much extra I would have to spend to get the same results. For me, it was an easy choice. There's no way I could get that kind of "name recognition" for what my monthly fees cost.

While they may not be perfect (and no brokerages are), I have at least found Re/Max willing to stay as much on the cutting edge of technology as possible - and for me that was a huge issue. No...they haven't gotten to Point2 status, but they do offer some very good things "technology" wise. Much better than I found with most.

For me it boils down to viewing this as my "own business", as the fees I pay really don't bother me. I grew up in a family of entrepreneurs, so I well understood what it would take to run a business in terms of marketing, advertising, overhead, etc. These are "fees" I just expected. Though my office is in my home, if I'm using the brokerage office for meetings, etc., why shouldn't I have to pay a part of that?  If I want the services of the receptionists or the transaction coordinator...why should I think those services should be free. These people have to be paid too.

If I owned any other type of business (i.e. restaurant, clothing store, electronics, etc.), I would have tons of overhead to have that business and certainly no one would be giving me a free handout just for signing on the dotted line. But again, maybe it's just because I grew up seeing what all is involved in owning "your own business" and I don't view myself as an "employee"...I am a "business owner."

And are people leaving Re/Max...absolutely! We were at nearly 120,000 agents in September and now we are at 115,000. But last I checked, there isn't a brokerage out there that isn't losing agents and it needs to happen...for all those that jumped on the bandwagon with no intention of ever doing the business full time - and yes...it even happened at Re/Max.

I realize there will be those here that continue to think Re/Max is a 2000 year old behemoth that is well past it's time...and that's fine.  Again...whatever brokerage works for you both financially and with your schedule is who you should be with...it's all about where you feel most comfortable! And for me...it's still with Re/Max. Will it be for the life of my career?  Who knows...none of us knows what tomorrow holds...much less even the next 5 minutes!

Happy New Year to All!

Connie, thank you for your post.  I was almost out the door looking for the next great and best thing in Real Estate.  Whew, I thought that the RE/MAX concept was a goner for sure.  It works for me, but it may not work for everyone.  But for be it from me to bash the way other people do their business.  There is room for all of us.

Like I said in a earlier post the RE/MAX concept is a good one a couple of you were scratching your head on the 2000.00 fee I would really like to post my monthly statements online for you to see.

That is what drove me out and I see from my association news letter many others are getting out.

I am sure there are many franchises across the country that don't have that extremely high fee.

Maybe it was just the office I was in but the other I mentioned left different franchises for the same reason affordability.

No argument RE/MAX is one of the top companies leading in training . I think anyone getting into the business should take Brian Buffinis hundred days to greatness.

I wish the best to all RE/Max franchises and they will always be there in the real estate market.

Connie and Tommy, If RE/Max works for you that's great. If Keller Williams works for you then I am glad for you and hope we are able to close a deal sometime in the future. But, as far as I am concerned the price of eggs does not change with different packages.

All the franchise companies have the same platforms to work from today. Internet lessons and video downloads. Pre-packaged ads and mailers. Even the cuts work out the same. One guy says he is giving you a 90/10 cut and then you find out that that is after the 10% franchise fee, annual dues and memebership costs are not even counted. If someone offers you more than a 70/30 cut it will mean you will be paying for stuff the 60/40 guy was including in his share.

I don't care if the banks get involved in real estate. My job description won't change. If any of us were truely independent agents we would be able to negotiate the best deal for the seller or buyer by listings the home (our listing) with the company that offerred the best service and price to the client. That is the way the insurance business works for Independent Agents and that is how the real estate market should be run.

Bring on the BANKS!

''All the franchise companies have the same platforms ''

Show them the money!

But times are a changing.

Meet, Michael Sorensen! he has it going on with RE/MAX

http://tinyurl.com/yv2n7t

I read on another Blog other RE/MAX 2000 agents are getting bombarded with emails like Amy to join another franchise.

Amy, I do hope it all works out for you and your colleagues.

Vance, I remember that guy. He had the questionable jokes on his home page.

Thanks for all the well wishes.  It's great to get the warm fuzzies from my colleagues.  

May this be a reminder to all of us that "there but for the grace of God..."  

Received an email today from Bob Kline indicating he may now be keeping a couple of his offices open and asking for agents' responses as to whether they would be interested in staying on.  No matter what the cause of the whole RE/Max 2000 fall, it was definitely handled poorly.  Me? I wish Bob Kline the best, but I'm signing with Re/Max Elite tomorrow.  

The strong & capable will survive and I believe in the end, all of this market turmoil will result in only the most capable agents working the market.  Sounds good to me!

Can anyone tell me (hello, Jay) if that front page that Michael Sorensen has is what the search engines want? I don't think it is very people friendly, but I know nothing. What does the experts think?

That's him Craig

My predictions

For 2008 will be the biggest turning point in our industry has ever seen, as I am sure the DOJ decision against NAR will be decided for or against.

The dust bowl of real estate agents and foreclosures, the final count should be in by then.

Realtors decline by 35% nationwide, keep in mind Orlando already lost 20%

The bottom line  number of the mortgage industry casualties should be over.

More franchise real estate brokerages closing doors nationwide.

If there is light at the end of the tunnel it will be in 2009..

This blog will be discontinued.

So what say you all?

Oh before I forget

Have a Happy New Year

Hey Craig that joke is still there check it out

A crusty old man walks into a real estate office and says to a female agent, "I want to sell my --- damn house!"

Tommy:  I think the best way for me to clarify what I was saying is to "do whatever works for you TODAY." Certainly there are changes in our lives that necessitate changing brokerages, but if you are happy with Re/Max and getting what you need...then might as well stay. If not...look around.

I also am a huge advocate for staying abreast of the latest trends in the market and if there is another brokerage that would seem to fit one's needs better at that particular time in their career, then by all means they should make the switch. It's totally preference.

I also do not make the assumption of lumping all franchises into one basket...as I spoke with plenty before joining Re/Max and they were not all the same.

Lloyd:  I'm sorry that you were in a brokerage with such high fees, as ours here are not that high. I hope you have found a brokerage that works well for you at this time in your career and it's certainly refreshing to hear someone leave a company and still have positive things to say...that doesn't happen very often these days.

Gregory and Vance:  Well....we'll just have to agree to disagree on this one, as well as about Mr. Sorensen...it's not the way I would do business. But it's his business and he can run it how he chooses - ah...the beauty of real estate.

Hey I wish Mr. Sorensen the best apparently he is very successful in the big city.

Vance, my thought is that a Century 21 agency is the same as a Coldwell Banker is the same as an ERA (all Cendant anyway) and they are the same as Prudential, Keller Williams, Exit, RE/Max, etc., etc., etc.

I am no better than any other agent here. We all use almost all of the same tools to get the job done. So, if someone bought into the kool aid mentality that their agency or they themselves are some how better than the rest of us..........

I have no time for them. My electric company does not make the lights brighter than your electric company. And, across the nation the rates are all just about the same. Life costs what it costs. No matter how much smoke and mirrors are used.

Happy New Year!

Connie, I think you have your head on straight. I agree with most of what you said. However, most agents switch agencies not for some imagined "better deal". They leave because the broker has pulled one too many favorite deals with someone else in the office. It's just a matter of how much BS an agent will take before he walks to the next office. And, I've been to enough of them that I can tell you "they are all the same".

Vance, I saw that one. Greg, I agree. I guess we find ourselves at a Brokerage where we *feel* comfortable.

Have a Happy New Year, Craig. Let's hope we sell a lot of homes and the scoundrels and thieves get justice - just once.

Greg:

I completed this post and had to walk away for a minute...thinking I had hit submit...but I still don't see it...so apologies if it gets on here twice.

I do agree with you that there are those who feel they got messed over by their broker and went to seek greener pastures elsewhere, and certainly I have heard my share of war stories.

But I also know of plenty who change brokers about every 2 - 3 years because they are all "awful" and they can't make any sales...when in reality it's them...they just aren't cut out for sales...it has nothing to do with the brokerage at all.

Certainly, if I had a problem at my brokerage and felt I was treated unfairly, I would definitely be ready to move on, but I am grateful that that has not been the case (at least not yet).

But I must ask Greg...since you said they are "all the same"...you are with Prudential and had lumped them into this group...so what makes you stay?

Happy New Year to you too Greg.

In accordance with the prophecy! ;)

Connie, I am where I am for the reason I stated. Most agents where I work come with the same baggage (or, story). I am going to stay as long as this boss treats me "fair" (Not looking to be the pet or favorite).

I will say that every time I move it costs me money -(1) lost revenue from clients and farm who associate me and the company as the same; (2) general expenses of branding from signs to business cards and new mailings; (3) throwing out the old brand; and, (4) Listings or deals I could not move with me.

It is the fourth reason most stay where they are at and take the abuse. It is a shame that so many people in real estate have no management skills, but think they do. And, as most have found out, almost anyone can "sell" in an up market.

If RE/MAX model is so flawed, why do they have premiere market presence, meaning largest market share, in so many markets?

In Toledo, a bellweather city for Market Testing, because of our demographic makeup, RE/MAX offices have fewer than 10% of agents, but those agents sell 35% all homes sold.  Next nearest brand sells about half that much.  And again, the third leading house sells about half that.  Sharply decreasing returns for the next 5 to 8 names.  Then there are 20 more boutique brokerages that don't do much business.  

If you don't benefit from the Balloon and the TV ads, and the market presence, it is easy to discount it.  But if you do, then you KNOW what the power of corporate marketing is to open doors, or get people off the fence.

Finally, RE/MAX has enough clout to negotiate discounts with various providers of advertisinga and services.  Local RE/MAX agents pay about 1/3 less than any other agent in town for newspaper ads due to corporate rate negotiated by RE/MAX on our behalf.

As for cost, around here, baseline cost may be advertised as $1200 a month, but it ends up costing about $1500 a month to be RE/MAX with misc add on fees by broker (postage/mailing machine share, office supplies share, etc).  Once you add your copy bill, postage, and routine office expenses, it can reach $2000 pretty easily.    

If you are selling more than 10-15 houses a year (depending on avg price and commission in your market) then this still beats paying a flat 30% to a broker who does not provide what RE/MAX provides in the way of advertising and positioning and corporate support, ad discounts, and etc.  

Finally, RE/MAX offers many free perks like LeadStreet and The online design center where you can create flash movies, web commercials, flyers, and brochures, even order printing and mailing services, with just a few clicks.

kool aid! it's all the same. All the franchise companies have the same tools to make you a success. Each office is independently owned and operated. Most managers are "recruiters" and "cheer leaders" with no management skills. They won't be able to teach you how to use the tools the company provides. That's why so many agents fail and go to work at "real" jobs. Anyone can "sell" in an up market and everyone expands when times are good. RE/Max didn't invent any of the programs they use.

Amy, sorry to hear you got caught in the crossfire. Hopefully the New Year and a new change of office will bring you good luck and good fortune.

It is never nice to hear about offices closing down...people always get hurt in some way as a result. I'm sure we are going to see a lot more of this over the next year.

Wish you the best of luck Amy!

Happy New Year everyone!

Thanks Chantal! Just a little bump in the road. Romans 8:28 always keeps it in perspective for me.

Wishing you an awesome New Year!

WOW!! what a fantastic post so many different opinions and not much negativity.

I am sure we will all survive and see the better times coming.

Everyone here has their niche in the market just look at all of us belonging to Point2.com .

Happy New Year to all and may we all prosper!!

Thanks, Jay. You're the best. And this was a great post - information wise and comments posted. Have a Happy New Year.

Gregory:  It can't all be koolaid if one plan sells more houses than another.  In some markets this might not be RE/MAX.  But every market has a market leader and there is usually a reason.  You can bask in that glow if you want to.  Years of good reputation building, bazillions of dollars of TV advertising and glossy marketing support can sure grease some skids better than others.

Jay great post. This is not a Remax issue but something that is happening in the Industry. i consolidated on of my franchises because it was to costly to keep two offices open when the market was slow. Quick growth and planning that doesn't come to fruition changes business plans all the time. It tough times you consolidate. You don't even need a MBA to know that.

I have worked with Remax agents through out my Career in Real Estate and find them to be some of the best agents in the business. I have never been with Remax but anyone that would think this move is a negative on Remax is very narrow minded and in touch with reality.

I feel sorry for those employees that lost their jobs but they can thank in part, the media for expanding a situation beyonds its borders. IMHO

Lonn, I am not saying RE/Max is not good. Just no better than the other franchise opportunities available. Sometime a small "mom and pop" is the best fit.

RE/Max has moved away from it's original concept of "experienced" agents. They are just like the rest now = recruit, recruit, recruit. You know, throw enough bs and some has got to stick.

This whole numbers game is just that, a game. Almost everyone and every agency claims to be number one. And, when they show you how they got the number - well, they are number one.

I say work for whatever company you are comfortable with in your marketing presentation and office politics. All have great resources to make you the "number one" star. Just don't expect the manager to be able to show you how to climb a rope.

There are agents in my area that are better salesman than I. There are people here and in my area that have much better computer skills. There are people who I would recommend to sell my own house over me. But, I am not telling you or anyone else who they might be. I'm the best package out there to get the job done. I've got to believe it. If I don't, how would I ever get another listing?

There are many who write much better than I do, but I hope you kind of got the picture. You may disagree with me, but that's my humble opinion. And, that is why I hang out here. I can say it, learn from it, and disagree with it.

Happy New Year!

I have enjoyed reading this blog, and first want to thank Amy for her evaluation of the Re/max closure. I think the most important part of her comments dealt with the possiblity that this agency "grew too fast and aquired too many offices in a down market." I believe it has nothing to do with the agent compensation model but with business decisions that proved to be their undoing. They are an independently run business that appears to have made a series of bad decisions. They are not the only ones. In down times business that do not have solid financial planning will go under.

I am a C21 agent and with less experience than many on this blog in real estate. But I do have many years in b2b and b2c marketing. The fundamentals of good company management doesn't change with the industry or size. It is not unique. With that in mind, I am also of the belief that each agent is their own business and need to treat it with the same planning and financial care as any business. That includes selecting an agency that fits their needs at the time and being prepared to shift if needed. I really think of my agency as a vendor to my business. When they quit meeting my requirments and providing value, I will not continue paying them.

I fully expect to see a significant decrease in active agents and agencies over the next 2 years. I hope my business plan will carry me through the troubled waters still ahead of us.

I am looking forward to 2008 and the opportunities that it presents, and as my spouse tells me, "go sell something". Happy New Years

I worked for RE/MAX for 3 years in a Texas office.  It had over 85 agents at the time and now it is down to 16.  When I opened my own Brokerage, I called RE/MAX and asked to buy a "Virtual" licensed office.  In other words, all agents would work from home - no big office lease which is killing alot of the offices.  I was told "No, it would never work"!  

So, I opened Sharcom Realty and it has done very well.  All my agents work from home, pay no office fees nor franchise fees and are making more money than ever.  

Yes, I miss the balloon, however I see them having to change some of their operating strutures to stay in business.  I was also told that whatever I told the Regional Manager would stay with him.  However, he immediately called my Broker.  Luckily we are friends and already knew I wanted my own office.